2022-08-18 | NDAQ:LPLA | Press release

SAN DIEGO, Aug. 18, 2022 (GLOBE NEWSWIRE) — LPL Financial LLC, a wholly owned subsidiary of LPL Financial Holdings Inc. (Nasdaq: LPLA) (the “Company”), today released its monthly business report for July 2022.

Total advisory and brokerage assets at the end of July were $1.12 trillion, an increase of $59.7 billion, or 5.6%, from the end of June 2022.

Total net new assets for July were $4.8 billion, which translates to an annualized growth rate of 5.4%. This included $0.9 billion in brokerage assets from CUNA(1). Total net new consulting assets were $3.0 billion, translating to an annualized growth rate of 6.4%.

Total customer cash balances at the end of July were $69.4 billion, a decrease of $0.2 billion from the end of June 2022. Net purchases in July were $4.7 billion.

(End of period in billions of dollars, unless otherwise indicated)
July June To change July To change
2022 2022 M/M 2021 Y/Y
Advisory and brokerage assets
Advisory assets 593.4 558.6 6.2 % 588.4 0.8 %
Brokerage assets 530.9 506.0 4.9 % 541.4 (1.9 %)
Total advisory and brokerage assets 1,124.3 1,064.6 5.6 % 1,129.9 (0.5 %)
Total net new assets
Net new advisory assets 3.0 4.1 n/m 5.7 n/m
Net new brokerage assets 1.8 6.5 n/m 4.3 n/m
Total net new assets 4.8 10.5 n/m 10.0 n/m
New organic net assets
Organic Advisory Net New Assets 3.0 4.1 n/m 5.7 n/m
Net new organic brokerage assets 1.8 6.5 n/m 4.3 n/m
Total organic net new assets 4.8 10.5 n/m 10.0 n/m
Net Brokerage in Advisory Conversions 0.4 0.5 n/m 0.8 n/m
Customer cash balances
Insured cash account scanning 41.9 40.8 2.7 % 34.4 21.8 %
Transfer from cash deposit account 12.3 12.3 0.0 % 7.9 55.7 %
Full Bank Scan 54.2 53.1 2.1 % 42.2 28.4 %
Money Market Sweep 13.9 15.0 (7.3 %) 4.3 n/m
Total customer cash transfers held by third parties 68.1 68.1 0.0 % 46.6 46.1 %
Customer cash account 1.3 1.5 (13.3 %) 1.3 0.0 %
Total customer cash balances 69.4 69.6 (0.3 %) 47.9 44.9 %
Net buying (selling) activity 4.7 2.0 n/m 6.5 n/m
Market factors
S&P 500 Index (end of period) 4,130 3,785 9.1 % 4,395 (6.0 %)
Russell 2000 Index (end of period) 1,885 1,708 10.4 % 2,226 (15.3 %)
Daily effective federal funds rate (basis point average) 164 119 37.8 % ten n/m
Note: Totals may not add due to rounding.
(1) At the end of July, $26.2 billion in client assets had been onboarded to CUNA out of a total of approximately $30 billion.

For more information regarding these and other LPL Financial LLC (“LPL Financial”) business actions, please refer to the company’s information. latest results announcementwhich is available in the quarterly results section of investor.lpl.com.

contacts

Investor Relations

[email protected]

(617) 897-4574

Media Relations

[email protected]

(980) 321-1232

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that business should work for the advisor, not the other way around. Today, LPL is a leader in the markets we serve, supporting nearly 21,000 financial advisors, including advisors to approximately 1,100 institution-based investment programs and approximately 500 registered investment advisory firms (“RIAs”) nationwide. We are unwavering in our commitment to the advisor-centric model and the belief that Americans deserve access to personalized advice from a financial advisor. At LPL, independence means advisors have the freedom they deserve to choose the business model, services and technology resources that allow them to run their practice perfectly. And they have the freedom to manage their relationships with their customers because they know their customers best. Simply put, we take care of our advisors, so they can take care of their clients.

Best RIA Custodian (Cerulli Associates, 2020 US RIA Marketplace Report); #1 independent brokerage in the United States (based on total revenue, Financial Planning magazine 1996-2021); #1 provider of third-party brokerage services to banks and credit unions (2020-2021 Kehrer Bielan Research & Consulting Annual TPM Report); Fortune 500 in June 2021.

LPL and its affiliates provide financial services only from the United States.

Securities and advisory services offered by LPL Financial, an SEC-registered broker-dealer and investment adviser. FINRA/SIPC member. We regularly disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

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